Marion Chamber shares small business relief info

Pandemic relief small business update and upcoming schedule of 2021 events

news@theeveningtimes.com The U.S. Chamber of Commerce has released a Guide to Small Business COVID-19 Emergency Loans to help small businesses navigate the waters of keeping the doors open while battling the coronavirus pandemic.

The Marion Chamber of Commerce shared the information with local businesses last week.

“The U.S. Chamber has created a new Guide to Small Business COVID-19 Emergency Loans to provide you and your members with the latest information and answers to FAQs about the changes that have been made to the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL) Program as part of the end-of-year pandemic relief package Congress has passed,” explained Marion director of economic development Tracy Brick in a release.

The release provides information on how to apply for relief and encouraged local chambers of commerce to share the information with members and networks/

U.S. Chamber of Commerce Summary of 501(c)(6) Eligibility in Pandemic Relief Package Expansion of PPP

The final pandemic relief package restarts the Paycheck Protection Program (PPP) and expands PPP eligibility to include 501(c)(6)s.

501(c)(6) organizations are eligible to receive a PPP loan provided:

• They are not a professional sports league or organized for the purpose of promoting or participating in a political campaign (Note: this will not impact chambers of commerce or trade associations);

• They do not employ more than 300 employees;

• They do not receive more than 15% of their receipts from lobbying activities;

• Lobbying activities do not compromise more than 15% of the organization’s total activities; and

• The cost of the lobbying activities of the organization did not exceed $1,000,000 during the most recent tax year that ended prior to February 15, 2020.

If an organization fails any of these tests they are NOT eligible to receive a PPP loan.

Similar rules apply to Destination Marketing Organizations.

Lobbying activities are not defined in the section. The Small Business Administration may provide a definition or guidance. Congressional staff have used information available in the 990 tax form when discussing the impact of the 15% lobbying activities limitation.

Specifically, staff have compared the lobbying expenses reported on schedule C, Part III-B, Line 2 with the total expenses reported for the year (Page

Continued on Page 2 CHAMBER (cont.)

1, line 18). (Note that these lines may be different if you are using a 990 form vs. 990EZ.) Absent further guidance, organizations may wish to analyze their most recent 990 to determine whether they may be eligible to apply for a PPP loan and may wish to proceed with their lender if they believe they do qualify.

The bill also expands allowable uses for PPP funds and simplifies the loan process. We will be providing separate information on the other PPP changes.

Visit the AR State Chamber of Commerce website for more information about COVID-19.

The Marion Chamber is also building its Community Calendar of events for 2021.

Backwoods Ribbon Cutting – 9:45 a.m.

Walk Across Arkansas -Time and place to be announced

Saturday, March 27

Conquistador Challenge Steak Cook-off – Marion Sports Complex. Contact Eric Johnson at (901) 831-2870 or esperanzabbq@gmail.com for more information.

Wednesdays, April 7 / July 7 / September 1

Smart Growth Accelerator sessions

Saturday, April 10

Cherry Street Art Show -83 Cherry St. in Marion, 9 a.m. to 4 p.m.

A Mother Goose Miracle (Crittenden Youth Theatre streamed production)

Saturday, April 17

You're A Good Man, Charlie Brown (Crittenden Youth Theatre streamed production)

Saturday, May 1

DeltaARTS Art on the Levee 2021: The Virtual Edition

Saturday, May 22

Schoolhouse Rock LIVE!

(Crittenden Youth Theatre streamed production)

September (Date To Be Announced)

MCOC Annual Awards Banquet

Saturday, October 2

MCOC Hogs on the Square (AR vs Georgia)

Thursday, December 9

Marion Christmas Parade Visit the MCOC online calendar to view more events and to add your community event. To have your event added to the calendar, email chamber@marionarkansas. org. Times and dates subject to change.